How much is billionaire Tran Ba ​​Duong's Thaco worth?

(Dan Tri) - Thaco has not yet listed its shares on the stock exchange, however, its large enterprise value is of interest and is revealed in the second quarter 2025 financial report of VietinBank Securities (VietinBank Securities - CTS).

The US Department of Commerce (DOC) has just announced the preliminary conclusion in the anti-dumping investigation on vehicle chassis and components imported from Vietnam, in which two Vietnamese enterprises were specifically mentioned, namely Thaco Special Vehicles Manufacturing and Thaco Industries Trailers and Heavy Steel Structures, attracting attention.

DOC said Thaco was the only enterprise in Vietnam that was considered separately, and after the analysis process, the agency calculated the dumping margin and issued a preliminary tax rate of 511.16%.

How much is billionaire Tran Ba ​​Duong's business worth?

Thaco is a large multi-industry corporation led by billionaire Tran Ba ​​Duong in Vietnam. This corporation is operating in 6 key areas with 6 members: Thaco Auto (automobiles), Thaco Industries (mechanics and supporting industries), Thaco Agri ( agriculture ), Thadico (investment, construction), Thiso (trade and services), Thilogi (logistics).

This enterprise has not yet listed its shares on the stock exchange. However, the large enterprise value is of interest and is "revealed" in the financial report of the second quarter of 2025 of VietinBank Securities Joint Stock Company (VietinBank Securities - CTS).

In 2018, VietinBank Securities purchased more than 14.02 million Thaco shares with a total value of more than VND 71.9 billion, the average cost price was about VND 5,127/share. After that, VietinBank Securities did not purchase more and Thaco did not increase its capital, so the number of shares held remained basically unchanged.

In 2023, VietinBank Securities sold more than 4.7 million Thaco shares, temporarily earning a profit of about 117 billion VND. By the end of the second quarter of 2025, the remaining 9.32 million shares were valued by this securities company at 275.59 billion VND. The financial report for the second quarter of 2025 shows that VietinBank Securities has sold all of these remaining shares.

It is noted that the total amount of unlisted shares sold during the period was 9,324,332 units (approximately the remaining amount in Thaco), earning more than 326.3 billion VND. Thus, excluding the cost price (more than 47.8 billion VND), VietinBank Securities temporarily earned about 278.5 billion VND from the recent divestment deal. Counting both times, the above securities company earned nearly 400 billion VND in profit on the initial investment of about 71.9 billion VND in Thaco.

With a price of more than 326.36 billion VND, VietinBank Securities and its partners implicitly valued each Thaco share at about 35,000 VND/share.

The second quarter 2025 financial report shows that VietinBank Securities has sold all of its Thaco shares. (Photo: Screenshot of VietinBank Securities' financial report).

The company, chaired by Mr. Tran Ba ​​Duong, currently has a charter capital of VND30,150 billion, equivalent to more than 3 million outstanding shares. Converted at VND35,000/share, the enterprise is valued at about VND105,525 billion, approximately USD4.2 billion.

How does Thaco do business?

Regarding business, according to the recent corporate report published on the Hanoi Stock Exchange (HNX), in 2024, the company recorded a profit after tax of VND 3,025 billion, an increase of 14% over the previous year; equity reached VND 55,827 billion.

Total liabilities are 139,754 billion VND, of which bank loans are 91,100 billion VND (an increase of 31,500 billion VND compared to the beginning of the year) and outstanding bonds are 13,333 billion VND.

Thaco's business situation (Photo: HNX).

Not only multi-industry, billionaire Tran Ba ​​Duong's enterprise is also targeting large-scale infrastructure projects, including the $67 billion North-South high-speed railway.

Source: https://dantri.com.vn/kinh-doanh/thaco-cua-ty-phu-tran-ba-duong-tri-gia-bao-nhieu-20251007074046013.htm